I feel sorry for Icelanders, really I do. What has happened is that private companies (banks) have behaved in a reckless manner in their own interests and when it all went wrong they managed to unload their debts onto the entire population of Iceland, with their politicians help they nationalized the banks and Bankrupted the country and the people now have to pay it off.
Yes I know in America some were forced through the CRA to give loans to those who were not qualified our own government has admitted this yet the banks themselves went beyond and infected everything from 401K's to insurance agencies by packaging this toxic waste all in the name of profit. This accompanied by our Politicians spending is Bankrupting America.
If you have pity for them because of our governments actions DON'T I'll tell you why. They bribed our politicians to allow Glass-Steagall go and Clinton happily did had they not done that our entire economic system would not be in the thrones of the Greatest Depression.
As you can see from the link above (cra) people are starting to catch on like Durbin said "Frankly The Banks Own The Place" and they are doing a great job of taking advantage of US the taxpayers. For example...
This is exactly what has happened in America and Britain and now the taxpayers have to pay off the debts of our banks. This is what the expression "Private profit, public debt" actually means. In addition you have our politicians and their buddies profiting from schemes all the time and we are forced to pick up the tab.
I admire the people of tiny little Iceland. They banded together and threw out the bums! Now they may not pay them back. You know were we still a true Republic with a Representative Democracy this would not have happened but our political system is corrupt. We cannot sell our vote yet the banks and other special interests can buy our politicians.
No one is representing us look at the issue of Illegal Immigration time and time again we the people rallied called, wrote, faxed the majority of Americans told them NO yet they pushed it time and again and will be doing so again soon. For the votes, for the cheap labor? Does it really matter we the people said NO just like we did about the Bailouts and the so called Stimulus. Now our entire country is crumbling our unemployment is really at 20%. No ONE is representing US!
They steal our money away through the use of Taxation under the threat of imprisonment (IRS Failure to pay Taxes)and give it to other nations, special interest groups, to pay off their contributors there is little difference to being robbed in a dark alley only that thief would be prosecuted.
Do you really feel like continuing to have what little wealth you have left redistributed? Forced to pay for their grand schemes and their New World Order where they rule and control everything you do? We need to get together like the people of Iceland did and throw the bums out! Reorganize rebuild our own manufacturing sector they so cleverly outsourced with UNFAIR trade agreements and tell them to go screw themselves let them try to collect and redistribute our wealth then.
Business's know no allegiance to people only to the almighty dollar if they and we are not taxed to death to pay for all the politicians schemes they will return and do business once again in America. As things continue to deterioriate like Gerald Celente said "Those who have nothing to lose, lose it" maybe then Americans will band together throw the bums out and pull an Iceland.